Many of our non-resident clients who are looking for a property in Spain have been surprised to find that obtaining Spanish and overseas Mortgages is an easier process than they first thought. Even if you have enough capital to purchase a new property in Spain outright, you may want to consider the option of a Spanish and overseas Mortgage.
You’ll recognize the types of Spanish and overseas Mortgages on offer, variable interest, fixed interest or a mixture of both. In fact the range of Spanish and overseas Mortgages is the same as in the UK, but the good news is that interest rates in Spain are amongst the lowest in Europe and consumer protection is second to none. Most banks supply all mortgage documentation in English and offer a tailor-made service for overseas borrowers. Most institutions lend up to 60% of the property value for non-residents and up to 80% for residents, with a choice of repayment periods from 5-40 years.
The link above takes you to Conti one of the UK's leading overseas mortgage specialist who should be able to help you find Spanish and overseas Mortgages. They are a large, well established company who are leaders in their field, both in Spain and in the UK. If you visit their site you can use their mortgage calculators to find out how much you are entitled to borrow to help finance your new home in Spain. Established in 1994, Conti has helped thousands of people to arrange their mortgages in over 45 countries. Conti work closely with overseas lenders and property professionals to help you buy your property, whether this is for your own personal use or for investment purposes.
Subject to status, you may well find that you could be able to borrow in Spain up to 60% of the property value to finance the property.
None of the information contained in this website constitutes, nor should be construed as financial advice.
